First of all, some basic facts about London:

• London consists of these areas:
  
  • Central London: Camden, Islington, Kensington and Chelsea, Lambeth, Southwark, Wandsworth and Westminster;
  • East London and the Thames Gateway: City of London, Tower Hamlets, Hackney, Newham, Redbridge, Barking and Dagenham, Havering, Bexley, Greenwich and Lewisham;
  • West London: Brent, Ealing, Hammersmith and Fulham, Harrow, Hillingdon and Hounslow;
  • North London: Barnet, Enfield, Haringey and Waltham Forest
  • South London: Bromley, Croydon, Kingston, Merton, Richmond and Sutton
• The population of about 7 million is expected to have an increase of 800,000 by 2016. Some 636,000 new jobs are projected.
• The region is the 1st largest regional economy in the UK. It accounts for 18% of the UK's GDP.
• A Think London study shows that 33% of Fortune Global 500 companies who have a European headquarters chosen London as their location. The nearest rival to London is Paris (9%).
• The city has much to celebrate and offer those who live there and visit it. It attracts an estimated 27 million tourists every year, spending £15 billion (2002).

So what challenges does the capital face?
London does have its challenges ahead, such as:

• London's growth in population and people coming into the city to work has over-stretched the city's infrastructure, as you'll know if you commute to work;
• Labour availability, infrastructure and access to finance are significant problems for many London businesses;
• Since large parts of London's businesses are linked to the international economy, they are under constant pressure from competition elsewhere in the world;
• London has the highest rate of child poverty in Great Britain
• There are huge differences between areas in inner and outer London. Inner London has some of the wealthiest and poorest areas in the UK; Outer London has a number of areas of severe disadvantage.
• Only 71% of its working age population is in employment and those with low qualifications face particular risks from being excluded from the labour market - the demand is for higher skilled occupations, more so than anywhere else in the UK
• Housing costs are very high causing problems for essential workers such as nurses and teachers.
• London is the most polluted city in the UK and one of the most polluted in Europe. It recycles only 9% of its municipal waste, whereas the average in England is 16%

So what is London doing about such challenges and opportunities?
The London Development Agency is working with many partners in the region to tackle these problems and its Economic Development Strategy has strategic objectives covering:

1. Investment in Places and Infrastructure
2. Investment in People
3. Investment in Enterprise
4. Investment in Marketing and Promotion

Each objective has a number of key activities which will all help ensure that the objectives are met. The LDA is also seeking to improve sustainability, health and equality of opportunity for all Londoners.

So what do these objectives mean? How will they affect you and your company?

Places and Infrastructure
The objectives here are to:

1. support the delivery of the London Plan, to promote the sustainable growth and economic development;
2. deliver an improved and effective infrastructure to support London's future growth and development;
3. deliver healthy, sustainable, high quality communities and urban environments.

What does this mean for you and your company?

Like all RDAs, there's clearly lots being done to help boost the UK's competitiveness and quality of life. For example, the plan is to have better rail links in the completion of Crossrail 1 and Thameslink 2000 by 2012. Don't be asleep to this drive; you could be missing out on invaluable opportunities to learn and train, so keep aware of what's on offer! Visit the local Business Link pages and Learning and Skills Councils to see what's happening in your area.

RESULT! In 2003-2004 the LDA created or safeguarded 18,017 jobs; created 26,683 training places; helped 9,152 people get into work; set up or attracted to London 1,333 businesses; provided support or advice to 26,937 businesses; brought back into use 46.91 hectares of derelict land; created 132,555 square metres of space for business; helped to create 1,527 homes; brought £302 million of private money into the most deprived parts of London by co-investing in the same areas!

Investment in People
The objectives here are to:

1. tackle barriers to employment;
2. reduce disparities in labour market outcomes between groups
3. address the impacts of concentrations of disadvantage.
   
   

   What does this mean for you and your company?

   If you haven't been on to your local area's web site recently to find out what they're offering you as a resident, why not check it out and see what they are doing to improve the quality of life for you? If you live in the fringes, find out what's being done to boost employment in the sector. If you're tired of the long commute into London, it could mean opportunities are beginning to appear closer to home.

   RESULT! The City Fringe Pathways to Jobs programme gives local people the skills they need to get work in the main employment sectors in the area: creative industries, ICT, hospitality, transport, finance and the building trades. The LDA led the delivery of the London Childcare Strategy which includes the Neighbourhood Nurseries Initiative. This supports 38 childcare projects to create hundreds of new childcare places.

   Investment in Enterprise:
   The objective here is to:

4. Address barriers to enterprise start-up, growth and competitiveness;
5. maintain London's position as a key enterprise and trading location;
6. improve the skills of the workforce;
7. maximise the productivity and innovation potential of London's enterprises.

What does this mean for you and your company?

There are lots of active efforts to find out what can be done to boost your sector's success in global and UK markets and to make life easier for businesses. Success will mean better job prospects for you and greater employment opportunities. In particular, if you're looking to move into a new sector, find out about it by visiting initiatives set up to promote them, such as Film London if you're keen to move to that industry. Show you're keen and willing!

RESULT! The LDA established Creative London to enhance the capital's reputation as a leading international centre of creativity and encourage further creative businesses to locate in London. 10 creative hubs are being developed across London to provide flexible workspace and exhibition space, plus training, mentoring, marketing and networking facilities. The LDA provided £3.2 million to establish Film London to encourage the future growth of the industry.

Investment in Marketing and Promotion
The objectives here are to:

1. Ensure a coherent approach to marketing and promoting London;
2. co-ordinate effective marketing and promotion activities across London;
3. maintain and develop London as a top international destination and principal UK gateway for visitors, tourism and investment.

What does this mean for you and your company?

We all know London is looking to host the 2012 Olympics. That could mean lots of extra tourists, but not just for London - for the whole of the UK! (See Stop Press ) Efforts to ensure that businesses keep moving to the capital will mean lots of extra jobs - and that a high degree of professionalism and highly skilled staff will be required. Keep learning and training! Why not boost your language proficiency to make the most of opportunities afforded by the global markets London works in?

RESULT! The LDA appointed the London First Centre to provide the capital's inward investment services. To date, the centre has helped 771 international businesses to locate in London! In March 2003, the LDA funded a London Leadership Forum on Business Tourism, which brought industry leaders together. One of the main priorities identified was the need for an International Conference Centre and a commission is now investigating the feasibility and viability of such a centre.

In a nutshell, the strategy seeks to build on London's strengths, identify opportunities for its to grow, and it addresses existing weaknesses and threats. The plan is to continue making London the place to do business and visit, while giving its residents quality of life and opportunity, so get out there and make sure you make the most of it!

For further information: London Development Agency's web site can be found at www.lda.gov.uk Visit London's web site can be found at www.visitlondon.com Visit www.go-london.gov.uk for more information.